Indonesia raises $1.03 billion in debut panda bond sale

Indonesia raised $1.03 billion (7 billion yuan) in its debut panda bond sale in mainland China, comprising 5.6 billion yuan in three-year notes at 1.9% yield and 1.4 billion yuan in five-year notes at 2.19% yield. Total orders reached 17 billion yuan with an overall bid-to-cover ratio of 2.4 times, indicating strong investor demand. Settlement is scheduled for July 30.